Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. recording contribution good sports, inc., a nongov

Recording contribution Good Sports, Inc., a nongovernmental not-for-profit organization, received funds during its annual campaign...

90.2K

Verified Solution

Question

Accounting

Recording contribution

Good Sports, Inc., a nongovernmental not-for-profit organization, received funds during its annual campaign that were specifically pledged by the donor to another nongovernmental not-for-profit health organization. How should Belle record these funds?

a. Increase in assets and increase in liabilities

b. Increase in assets and increase in revenue

c. Increase in assets and increase in deferred revenue

d. Decrease in assets and decrease in fund balance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Determine which of these four peptides is most likely to become a beta sheet. Met-Leu-Lys-Ala-Ser-Ala-Leu-Glu-Lys-Leu-Ser-Glu Ala-Glu-Met-Leu-Gln-Lys-Arg-Gly-Cys-Gly-Asp-Glu Lys-Thr-Val-Ile-Trp-Pro-Phe-Tyr-Ile-Gln-Ile-Gly Arg-Ser-Tyr-Glu-Gly-Leu-Lys-Arg-Ile-Ala-Glu-Ser I would like...

Biology
Q

Why did Partition occur and what were the consequences?

Psychology
Q

Upon the successful completion of this module, you should understand the following concepts: IN YOUR OWN WORDS...

General Management
Q

ch of the following is not a polar equation of a cc ect one a...

Geometry
Q

The function A(x)= x(x + 10) describes the area A of the opening of a...

Basic Math
Q

H t 10 9 8 6 5 4 if 1 0 if t 0 dom...

Calculus
Q

assume the company uses three inventory pools instead of one. compute ending inventory, cogs, and...

Accounting
Q

22. Perth Limited had the following historical accounting data per unit: Direct materials Direct labour...

Accounting
Q

Nash Corporation reported net income of $50,800 in 2020 . Depreciation expense was $18,400. The...

Accounting
Q

Net Present Value and Competing Projects For discount factors use Exhibit 12B.1 and Exhibit 12B.2....

Accounting
Q

During 2021, Amblance Company reported net revenue of $2,898,000. The company reported net fixed assets...

Accounting
Q

Cascade Company was started on January 1. Year 1, when it acquired $165,000 cash from...

Accounting